PBF Logistics LP (NYSE:PBFX) Short Interest Update

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PBF Logistics LP (NYSE:PBFX) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 194,900 shares, a growth of 31.0% from the July 15th total of 148,800 shares. Based on an average daily trading volume, of 102,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.8% of the company’s shares are sold short.

In other news, Director Karen Berriman Davis acquired 1,500 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $19.64 per share, for a total transaction of $29,460.00. Following the transaction, the director now owns 17,732 shares of the company’s stock, valued at $348,256.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in PBF Logistics by 21.4% during the 2nd quarter. Royal Bank of Canada now owns 3,966 shares of the pipeline company’s stock worth $84,000 after buying an additional 700 shares during the period. BNP Paribas Arbitrage SA raised its stake in PBF Logistics by 76,480.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,658 shares of the pipeline company’s stock worth $162,000 after buying an additional 7,648 shares during the period. Securian Asset Management Inc acquired a new stake in PBF Logistics during the 2nd quarter worth $271,000. Tortoise Index Solutions LLC raised its stake in PBF Logistics by 62.1% during the 2nd quarter. Tortoise Index Solutions LLC now owns 13,156 shares of the pipeline company’s stock worth $278,000 after buying an additional 5,040 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in PBF Logistics by 51.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 13,900 shares of the pipeline company’s stock worth $294,000 after buying an additional 4,750 shares during the period. 24.55% of the stock is currently owned by institutional investors.

A number of research analysts have commented on the company. Zacks Investment Research lowered PBF Logistics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, July 20th. Wells Fargo & Co set a $25.00 price target on PBF Logistics and gave the company a “hold” rating in a research note on Monday, August 12th.

Shares of PBFX stock traded up $0.29 during trading hours on Tuesday, reaching $20.45. The company had a trading volume of 88,741 shares, compared to its average volume of 92,537. The company has a 50 day moving average of $20.90 and a 200 day moving average of $21.04. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 3.24 and a beta of 0.77. PBF Logistics has a 1-year low of $19.17 and a 1-year high of $23.69.

PBF Logistics (NYSE:PBFX) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.37 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.37. The company had revenue of $82.75 million for the quarter, compared to the consensus estimate of $82.73 million. PBF Logistics had a return on equity of 50.22% and a net margin of 25.63%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. As a group, sell-side analysts forecast that PBF Logistics will post 1.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 10.07%. This is an increase from PBF Logistics’s previous quarterly dividend of $0.51. PBF Logistics’s dividend payout ratio is 113.19%.

About PBF Logistics

PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.

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